PH farm exports growth slow down to 11% in February
Sugar and fruit and vegetable exports weighed on Philippine exports in February, with total farm exports growth slowing down to 11 percent to $4.8 billion, data from the Philippine Statistics Authority show.
The strong performance of coconut exports, however, offset the declines.
According to the PSA, coconut exports grew by 61 percent in February to $154.4 million, with coconut oil exports expanding by 67 percent to $132.6 million. Desiccated coconut exports also soared by 147 percent to $19.9 million.
Sugar exports plummeted by 61 percent to $13.8 million.
Fruit and vegetable exports fell by 36 percent to $80.1 million with the decline in banana, pineapple juice, and canned pineapple exports. Banana exports fell by plunged by 45 percent to $27.6 million, canned pineapple exports fell by 40 percent to $20.9 million and pineapple juice exports dropped by almost 100 percent to just $18.000. Mango exports, on the other hand, grew by 80 percent to almost $1 million.
Tobacco exports grew by nine percent to $3.4 million while exports of natural rubber soared by almost 400 percent to $12.2 million.